I believe this was a significant turning point for
the silver market, and as such, I felt I had to send out this notice.
I hope my readers did not miss today's great move. I
hope that a very few of my readers were shaken out and discouraged by
the recent manipulation of the silver price down to $6.
Did you realize that the bullion banks are now
covering their shorts, reducing their short positions, and are now
increasing their long positions in silver at $6/oz., as can be seen in
the COT reports?
www.cftc.gov/dea/options/deacmxsof.htm
If the commercials are reversing their positions, and they are, it means several things very profound.
The commercial bullion dealers who are manipulating
the price to the downside are giving up! They may be winning this
battle down from $8.40, but they are losing the war! For the most part,
they are covering at a loss at $6, since most of their short positions
have existed since the $5 level and lower! And if they are buying at
$6, it indicates that those who manipulate the price to the downside
think this is a bottom. And so, it will likely be a bottom.
Silver stocks are now the safest investment that I
know of, with also the greatest upside potential. The downside from
here is minimal, as $6/oz. silver appears to be a bottom. The upside
for the stocks remains huge.
Right now, most of the silver exploration companies
are flush with cash from private placements, debt free, and are in the
process of drilling or looking to hire drillers. Thus, the stocks are
less risky than in the summer of 2003, when many explorers had no cash
at all, and were at risk of going out of business.
Those people who own the silver stocks when drill
results will be released over this summer, and as silver prices climb
right back up and make new highs, will stand to gain the most. Perhaps
gains of 100% - 200% for the entire sector will be modest.
Overall, my list of 167 stock symbols in the silver sector was up 5.7% for the day.
If you would like to build yourself a watch list of
silver stocks in the silver sector, it's really easy to do:
Go to yahoo.com. Click on yahoo finance. Take a
minute to register. Sign in. At the top of the page, click "create" a
portfolio. Choose "track your current holdings". In the large box, copy
and paste the following symbols Use your mouse to highlight the text,
then use control-C (or right mouse click) to copy, control-V (or right
mouse click) to paste. (Updated as of April 2)
The first symbol, "XAGUSD=X" lets you track the
silver price. These symbols are in the rough order they appear in my
free weekly silver stock report, so this way, you can follow along
what's taking place in the silver market on a daily basis. Also, you
can easily access charts for any of these, such as 1 day, 5 day, 3
month, 6 month, 1 year, 2 year, or 5 year charts. You will love being
able to access this information so quickly from your own continually
updating "silver stock page".
You will also be able to see, in one place, right at
the end of the list, the news releases for each stock on the list (if
the company has their PR act together).
Here is how to track the price of your Pink Sheets
stocks. The PK symbols do not update volume or price too often, if at
all. This is often due to the laziness of the pink sheet dealers. To
get the price and volume of your stock, look up the Canadian symbol.
Then, multiply the Canadian price by the exchange rate, which today is
about .73. That will give your US dollar price. Then, add about 1% for
commissions for trading through the pink sheet dealers to get an idea
of what you might pay.
I update this list of ticker symbols about once a
month. Check the free weekly report at goldismoney.com in the archive
for updates. Or, if you would like to receive my report in email,
please sign up at www.goldismoney.com
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